Finance Wales backs Channel Fisheries with £750,000
Finance Wales has made a £750,000 investment comprising both equity and debt into Welsh fresh fish merchant Channel Fisheries.
Capital commitments were made through the £40m Wales SME Investment Fund, backed by the Welsh government and Barclays. The investment is the first completed through the vehicle.
The fresh capital will fund the acquisition of UK fish wholesaler Murray's Fresh Fish. The company also plans to expand its processing facilities.
Company
Founded in 1981 and headquartered in Cardiff, Channel Fisheries is a fresh fish and seafood wholesaler. The firm's customer base includes Michelin star restaurants, hotel chains and pubs and restaurants. The company has been awarded a royal warrant.
Channel Fisheries has operations in Ponthenri and Brixham and a fishmonger/restaurant in Cardiff.
People
James Henderson, investment executive at Finance Wales, worked on the transaction.
Advisers
Equity - PKF (Financial due diligence); Eversheds (Legal).
Company - Capital Law (Legal).
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